Global Hypodermic Needles Market Expected to Reach $4.5 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Global Hypodermic Needles Market: Opportunity Analysis and Industry Forecast, 2021-2030" the global Hypodermic Needles Market size was valued at $3.3 billion in 2020, and is estimated to reach $4.5 billion by 2030, growing at a CAGR of 3.4% from 2020 to 2030.

A hypodermic needle is a hollow needle widely used across medical settings to carry out different applications, such as drug delivery, vaccination, and blood specimen collection. These needles function through two different mechanisms, namely safety and non-safety needles. They are used to administer and inject drugs in the body and also to withdraw fluids from the body for examination and research purposes.

Hypodermic needles also serve important roles in research requiring sterile conditions. The hypodermic needle significantly reduces contamination during inoculation of a sterile substrate in two ways. First, its surface is extremely smooth, preventing airborne pathogens from becoming trapped between irregularities on the needle’s surface, which could subsequently be transferred into the media as contaminants. Second, the needle’s point is extremely sharp, significantly reducing the diameter of the hole remaining after puncturing the membrane, which consequently prevents microbes larger than the hole from contaminating the substrate. Also because of  increase in applications of hypodermic needles, especially in clinics, hospitals, and by physicians has formulated the need of regulatory guidelines to evaluate the performance and quality of these needles. The International Organization for Standardization (ISO) has formed safety standards for their commercial use. These regulations provide guidance to determine the specification and minimum standards for hypodermic needles.

Needlestick injuries have a significant impact on the Hypodermic Needles Industry, and this impact is projected to further increase during the forecast period. This is attributed to the fact that needlestick injuries are the leading cause of blood-borne disease among healthcare professionals. The government and private organizations are taking certain initiatives to make advancement in the Hypodermic Needles Industry to prevent injuries occurred by needles, which is expected to propel the growth of the hypodermic needles market size. For instance, in June 2020, Beckton, Dickinson and Company (BD,) a leading global medical technology company, launched new ultratouch push button blood collection set with pre-attached holder that will help protect healthcare workers from the needlestick injury.

Also, B. Braun Medical Inc. launched its heparin sodium injection, the first Heparin 0.5 mL prefilled syringe with attached safety needle for subcutaneous and intravenous use in the U.S., in august 2019.

In addition, rise in incidence of chronic & lifestyle diseases, especially diabetes, supplements the market growth. Increase in consumption of injectable drugs especially among diabetic patients and increase in preference of injectable drugs in comparison to oral drugs due to rapid onset & effective treatment drives the demand for hypodermic needles. In addition, rise in adoption of these needles for vaccination and immunization purposes is expected to boost the growth of the market.

Rise in incidence of chronic & lifestyle diseases, especially diabetes, , and increase in demand for advanced hypodermic needles solutions are expected to drive the Hypodermic Needles Market Growth. However, availability of alternative modes of drug delivery, low awareness towards safety syringes, and high cost of hypodermic needles hamper the market growth. The upsurge in demand for hypodermic needles, rise in disposable incomes, and growth prospects in emerging economies of Asia-Pacific and LAMEA are expected to provide numerous opportunities for market growth during the forecast period.

Depending on product type, the safety hypodermic needles segment dominated the market in 2020, and this trend is expected to continue during the forecast period, due to  increase in prevalence of the needlestick injury. The safety hypodermic needles are widely preferred over non-safety hypodermic needles, owing to the convenience and safety offered by these products along with advanced features, such as luer lock, single-handed technique, and other safety features.

Depending on application, the drug delivery segment dominated the market in 2020, and this trend is expected to continue during the forecast period. The injections, which employ hypodermic needles provide high drug absorption  and  less wastage of drugs, shorter onset time and accurate titration of the dosage. During vaccination, hypodermic needles are used to deliver the vaccines to the patients to treat various conditions such as influenza, hepatitis, pneumonia, and others. For blood specimen collection, sterile hypodermic needles are used to avoid the needlestick injuries to the blood donors, receivers, and healthcare providers and the risk associated with cross infection associated with blood transfusion.

Depending on end user Hypodermic Needles Market Analysis, hospitals are the largest end users of hypodermic needles in 2020, and this trend is expected to continue during the forecast period. Hospitals widely use hypodermic needles for various purposes, such as vaccination, drug delivery, blood specimen collection, and others. Also, hospitals of developed countries have made  it mandatory to use hypodermic needles. World Health Organization (WHO) has recommended all healthcare providers to switch over to safer needles to help prevent the spread of blood-borne diseases, such as hepatitis, HIV, and viral hemorrhagic fevers. There is increase in activities in the healthcare sector owing to high demand for hypodermic needles in hospitals and health maintenance organization HMOs globally. In addition, hospitals and health maintenance organization (HMO's) consistently collaborate with safety needle manufacturers, distributors, and organizations for medical supplies of hypodermic needles across all hospitals and HMOs.

Asia-Pacific garnered a major in the hypodermic needles market share in 2020, and is expected to continue to dominate during the forecast period, owing to increase in prevalence of chronic diseases, presence of a high population base (with India and China being the most populated countries), presence of unmet medical needs, and increase in disposable incomes of people in this region. However, based on Hypodermic Needles Market Forecast, Europe is expected to register second highest share in 2020, owing to increase in prevalence diabetes, presence of key players in region, and well developed healthcare infrastructure in this region.